{"id":19355,"date":"2021-03-29T09:25:34","date_gmt":"2021-03-29T09:25:34","guid":{"rendered":"https:\/\/migrate1.artrights.me\/che-cose-ethereum\/"},"modified":"2021-04-22T08:15:37","modified_gmt":"2021-04-22T08:15:37","slug":"what-is-ethereum","status":"publish","type":"post","link":"https:\/\/artrights.me\/en\/what-is-ethereum\/","title":{"rendered":"What is Ethereum?"},"content":{"rendered":"\n<h3 class=\"has-text-align-center wp-block-heading\" id=\"h-what-is-ethereum\"><strong>WHAT IS ETHEREUM?<\/strong><\/h3>\n\n\n\n<p><strong><em>What is Ethereum and what application does it have in the art world? Let&#8217;s find out together!&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p><strong>Ethereum &#8211; a programmable and decentralized Blockchain &#8211; <\/strong>has begun to play an increasingly important role and lately its use is increasingly associated with that of <strong>Crypto Art and NFT<\/strong>, the new art phenomenon that is making the art world talk&nbsp;<\/p>\n\n\n\n<p><strong>But what is Ethereum?&nbsp;<\/strong><\/p>\n\n\n\n<p><strong>Ethereum is a <\/strong>Blockchain, a decentralized virtual computer, whose purpose is to develop and manage <strong>Smart Contracts, literally smart contracts<\/strong>, which are paid with the cryptocurrency ETH Ether, whose value as of March 2021 stands at about 1,400 euros.&nbsp;<\/p>\n\n\n\n<p>Ethereum was born in 2015, founded by Russian Vitalik Buterin along with Joseph Lubin (entrepreneur, former Goldman Sachs) and Jeffrey Wilke (computer scientist).&nbsp;<\/p>\n\n\n\n<p>Ethereum physically does not exist, it is not connected to any server: it is virtual because it is a computer that resides in the network, made up of all the other computers in the Ethereum network. Decentralized because no one can attack, censor or control it.&nbsp;<\/p>\n\n\n\n<p><strong>But how do Ethereum and the Ether cryptocurrency tie into the art world?&nbsp;<\/strong><\/p>\n\n\n\n<p>Ever since the <strong>Crypto Art and NFT phenomenon <\/strong>exploded, it&#8217;s impossible not to have heard of Ethereum and its application to art.&nbsp;<\/p>\n\n\n\n<p>In fact, platforms for the sale of digital works, such as <a href=\"https:\/\/superrare.co\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>SuperRare <\/strong><\/a>and <a href=\"https:\/\/rarible.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Rarible<\/strong><\/a>, rely precisely on the Ethereum Blockchain where the currency for buying and selling is precisely the ETH.<\/p>\n\n\n\n<p>When an artist decides to sell their artwork, they create a transaction on the Ethereum Blockchain through a token uniquely associated with the artwork in the artist&#8217;s cryptographic wallet. The transaction is digitally signed by the artist, using asymmetric cryptography, in order to prove the authenticity of the artwork.<\/p>\n\n\n\n<p><strong>Ether <\/strong>has thus become the leading <strong>exchange currency <\/strong>for purchasing artwork in NFT, second only to <strong>Bitcoin, <\/strong>among the most widely used virtual currencies in exchanges.&nbsp;<\/p>\n\n\n\n<p>Collecting in itself has no limits, that&#8217;s why there are extraordinary adjudications in ETH of digital works such as those of the artist duo <a href=\"https:\/\/artrights.me\/en\/the-most-famous-italian-crypto-nft-artists-hackatao\/\/\" target=\"_blank\" rel=\"noreferrer noopener\">HACKATAO<\/a>, whose 546 works sold on different marketplaces have generated transactions for over 6 million dollars while the <a href=\"https:\/\/artrights.me\/en\/the-market-of-crypto-art\/\" target=\"_blank\" rel=\"noreferrer noopener\">Crypto Art market <\/a>has produced in the last months exchanges for over 185 million ETH for a value, although fluctuating, of about 340 million dollars.&nbsp;<\/p>\n\n\n\n<p><strong><em>Will the future of art be traded in Ethereum?&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p>Photo Credits: School of Motion<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is Ethereum and what application does it have in the world of art? Its use is increasingly associated with that of Crypto Art and NFT<\/p>\n","protected":false},"author":4,"featured_media":19344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6870],"tags":[532,6936],"class_list":{"0":"post-19355","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto-art-en","8":"tag-blockchain-en","9":"tag-ethereum-en"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Ethereum? - Crypto Digital Art | Art Rights Magazine<\/title>\n<meta name=\"description\" content=\"What is Ethereum and what application does it have in the world of art? 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